Nairobi, July 6 -- Lennox Otieno founded Subleasing Kenya in 2023 when the short-term rental market was highly lucrative. He started with four short stay units, two in Nairobi and two in Mombasa, at a time when few investors had ventured into the business.

"It was still a niche market. There weren't as many hosts as there are today," he says.

The business grew steadily at that time, largely due to international travellers. Lennox says that around 95 per cent of his clients were foreigners and Kenyans living abroad, many of whom preferred the flexibility and privacy offered by short stay accommodation to traditional hotels.

As demand grew, another revenue stream opened up: some visitors approached him, seeking help to invest in Kenya's ...